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20130706
20130714
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advances in economic thinking and in changing policy environment. notably following the ideas of a large and others the fomc has moved to the framework that ties policy settings more directly to the economic outlook, so-called forecast approach. in particular the fomc has released more detailed statement following its meetings that have relayed the outlook for policy to prospective economic developments and has introduced regular summaries of the individual economic projections of fomc participants, including for the target federal funds rate. the provision of additional information about policy plans as health policymakers deal with the constrained posed by the lower bound o on the short-term interest rate. in particular by offering guidance about a policy will respond to economic development, the committee has been able to increase policy accommodation, even when the short-term interest rate is near zero and cannot be meaningfully reduced further. the committee has also sought to influence interest rates further out on the yield curve, notably through its securities. other central bank
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